Bhinneka News Online: Breaking business news: Yellen: Financial rules have made economy stronger, changes should be 'modest'

Friday, 25 August 2017

Breaking business news: Yellen: Financial rules have made economy stronger, changes should be 'modest'

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Friday, August 25, 2017

Yellen: Financial rules have made economy stronger, changes should be 'modest'

JACKSON HOLE, Wyo. (Reuters) - Reforms put in place after the 2007 to 2009 crisis have strengthened the financial system without impeding economic growth and any changes to these rules should remain modest, Federal Reserve Chair Janet Yellen said Friday in her fullest defense yet of the regulations enacted after the Great Recession.

Wall Street rises modestly following Yellen speech

NEW YORK (Reuters) - U.S. stocks rose slightly on Friday, lifted by high-dividend-paying stocks, after Federal Reserve Chair Janet Yellen stayed silent on monetary policy in a much-anticipated speech.

Yellen to Trump: don't expect a flip-flop on financial reforms

JACKSON HOLE, Wyo. (Reuters) - Janet Yellen delivered a message to President Donald Trump on Friday, making it clear that if he re-nominates her as Federal Reserve chair she will not turn her back on the raft of U.S. financial reforms that Republicans want to roll back.

U.S., Mexico, Canada ink non-disclosure agreements for NAFTA talks

MEXICO CITY (Reuters) - The United States, Mexico and Canada signed non-disclosure agreements before the first round of negotiations to revamp the North American Free Trade Agreement (NAFTA), Mexico's Economy Ministry said on Friday.

Samsung leader Jay Y. Lee given five-year jail sentence for bribery

SEOUL (Reuters) - The billionaire head of South Korea's Samsung Group, Jay Y. Lee, was sentenced to five years in jail for bribery on Friday in a watershed for the country's decades-long economic order dominated by powerful, family-run conglomerates.

Philippines says will lift Uber suspension if hefty fine paid

MANILA (Reuters) - The Philippine transport regulator said on Friday it would lift a one-month suspension on Uber Technologies Inc [UBER.UL] if it paid a penalty of 190 million pesos ($3.7 million), a fine nearly 20 times greater than Uber had offered to pay.

Fiat Chrysler says will always evaluate deal inquiries

MILAN (Reuters) - Fiat Chrysler (FCA) said on Friday it would evaluate any inquiries about potential transactions, but did not have anything to add to its previous comments on reported interest from China's Great Wall Motor in its Jeep brand.

Senator questions quick approval of Amazon's Whole Foods purchase

WASHINGTON (Reuters) - A U.S. Democratic senator on Friday questioned the Federal Trade Commission's quick approval of Amazon.com Inc's purchase of Whole Foods Market Inc this week, less than three months after the $13.7 billion deal was announced.

General Motors details Brazil investments

SAO PAULO (Reuters) - U.S. automaker General Motors Co on Friday announced 1.9 billion reais ($603 million) of investments in its Joinville factory in southern Brazil and 1.2 billion reais of capital spending in its plant on the outskirts of São Paulo.

'Worthless' Subway 'Footlong' sandwich settlement is thrown out: U.S. court

(Reuters) - A U.S. federal appeals court on Friday threw out a class-action settlement intended to resolve claims that the Subway sandwich chain deceived customers by selling "Footlong" subs that were less than a foot long.